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BATLBattalion Oil Corporation
$1.23$21M
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HomeStocksBATLBalance Sheet

Battalion Oil Corporation (BATL) Balance Sheet

23Y historyFree accessUpdated daily

The company maintains a vulnerable liquidity position with a current ratio of 0.90 as of 2026Q1 and a history of extreme leverage volatility, including a debt-to-equity ratio that peaked at 10.04 in 2024Q1.

BATL Balance Sheet

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly
MetricTTMDec'25Dec'24Dec'23Dec'22Dec'21Dec'20Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07Dec'06Dec'05Dec'04Dec'02
Total Current Assets82.1M57.16M54.05M90.54M88.17M87.91M47.84M71.15M144.65M471.79M160.65M556.59M702.71M338.63M287.86M20.24M20.53M23.64M60.02M31.49M15.71M34.74M34.3M0
Cash & Short-Term Investments46.37M27.96M19.71M57.53M32.73M48.75M4.29M14.28M46.87M424.07M24K8.03M43.71M2.83M2.51M49K1.38M129K164K6.87M6.72M34.55M34.19M0
Cash Only46.37M27.96M19.71M57.53M32.73M48.75M4.29M14.28M46.87M424.07M24K8.03M43.71M2.83M2.51M49K37K129K164K6.87M6.72M290.75K834.09K0
Short-Term Investments00000000000000001.34M000034.26M33.35M0
Accounts Receivable21.61M12.07M26.3M23.02M37.97M36.81M40.8M54.75M94.25M43.34M153.69M522.49M629.09M300.26M273.23M10.29M11.92M14.08M13.56M18.06M7.3M8.3M91K0
Days Sales Outstanding44.0726.7149.5138.0638.647.1100.4388.94151.8141.86134.18346.56199.97109.65402.2236.639.1659.0227.180.5139.18-1.85-
Inventory000000004.75M10.57M6.89M4.63M4.69M5.15M3.12M4.31M3.38M3.9M18.33M5.71M1.01M000
Days Inventory Outstanding--------15.619.937.933.462.523.087.8628.620.4133.28137.9296.6720.24---
Other Current Assets14.13M16.51M7.47M9.5M16.75M1.38M1.85M36K35K54K236K16.86M403.55M58K8.31M4.39M3.53M3.56M39.85M4.63M677K484K1K0
Total Non-Current Assets330.26M403.51M377M394.8M397.19M302.35M298.66M513.51M1.94B1.17B1.16B2.9B5.73B5.02B4.75B247.56M244.47M287.52M335.82M548.75M146.01M549.86K6.56K0
Property, Plant & Equipment5.34M392.8M370.67M372.27M388.99M297.57M292.3M512.59M1.92B1.17B1.16B2.88B5.38B4.92B4.46B216.52M209.91M249.3M296.5M541.62M142.81M8.95K6.56K0
Fixed Asset Turnover0.52x0.42x0.52x0.59x0.92x0.96x0.51x0.44x0.12x0.32x0.36x0.19x0.21x0.20x0.06x0.47x0.53x0.35x0.62x0.15x0.48x-2740.93x-
Goodwill000000000000629.09M300.26M227.76M000000000
Intangible Assets000000000000000000000000
Long-Term Investments9.15M0940K1.28M1.56M3.74M0804K13.01M563K1.89M209K4.31M4.46M11.14M000000000
Other Non-Current Assets322.31M10.71M5.39M21.25M6.64M1.04M6.36M123K-81.17M1.13M01.6M3.83M1.51M49.7M6.94M3.56M6.65M10.6M3.34M-23.47M540.91K00
Total Assets412.37M460.68M431.05M485.34M485.36M390.27M346.5M584.67M2.08B1.64B1.32B3.46B6.43B5.36B5.04B267.8M265M311.16M395.85M580.24M161.72M35.29M34.31M62.19M
Asset Turnover0.34x0.36x0.45x0.45x0.74x0.73x0.43x0.38x0.11x0.23x0.32x0.16x0.18x0.19x0.05x0.38x0.42x0.28x0.46x0.14x0.42x-0.52x-
Asset Growth %-1.96%6.87%-11.19%-0%24.37%12.63%-40.74%-71.94%26.77%24.55%-61.84%-46.25%20.12%6.26%1782.37%1.06%-14.84%-21.39%-31.78%258.78%358.28%2.87%-44.84%-
Total Current Liabilities91.2M63.64M77.66M134.42M165.03M121.6M83.18M106.43M161.74M150.34M207.55M295.25M744.68M664.38M677.97M26.34M32.89M38.02M63.06M65.92M18.18M685.56K52.68K0
Accounts Payable15.18M12.63M15.66M24.91M42.92M25.32M22.74M36.04M68.96M35.69M24.36M47.26M60.51M87.66M136.72M11.5M27.02M26.45M34.57M20.32M11.74M7.58M00
Days Payables Outstanding73.2331.3349.8675.42125.1588.0776.9577.12226.467.2528.0735.332.4452.53344.9776.31162.99225.66260.11343.83234.61171.97--
Short-Term Debt23.14M012.25M50.11M35.07M454K1.72M923K000001.39M74.67M0127K126K160K29.23M756K000
Deferred Revenue (Current)0000000082.72M93.38M422K7.96M21.22M24.88M8.84M05.11M6.26M27.24M9.16M0000
Other Current Liabilities52.89M23.53M13.8M17.71M76.22M92.1M25.35M66.53M66.1M91.83M178.77M227.66M568.38M469.02M25.07M3.16M3.1M8.13M19.26M12.36M4.07M-7.79M25.68K0
Current Ratio0.90x0.90x0.70x0.67x0.53x0.72x0.58x0.67x0.89x3.14x0.77x1.89x0.94x0.51x0.42x0.77x0.62x0.62x0.95x0.48x0.86x50.67x651.08x-
Quick Ratio0.90x0.90x0.70x0.67x0.53x0.72x0.58x0.67x0.86x3.07x0.74x1.87x0.94x0.50x0.42x0.60x0.52x0.52x0.66x0.39x0.81x50.67x651.08x-
Cash Conversion Cycle-29.16--------58.99-5.47114.04314.73170.0560.265.12-11.11-103.43-133.36-95.09-166.65-175.19---
Total Non-Current Liabilities164.05M203.59M171.73M176.37M235.71M204.96M173.36M161.58M724.82M421.29M999.43M3.11B3.92B3.24B2.27B235.52M227.95M273.67M283.06M415.62M171.44M6.88M6.45M56.27M
Long-Term Debt53K180.96M145.53M140.28M182.68M181.56M158.49M144M613.11M409.17M964.65M2.87B3.75B3.18B2.03B202M196.97M246.04M250.54M306.52M131.48M0056.27M
Capital Lease Obligations773K104K84K490K0352K02.25M0000000000000000
Deferred Tax Liabilities0000000095.79M00136.83M136.83M8.47M160.06M0005.78M71.05M26.68M000
Other Non-Current Liabilities163.99M22.53M26.11M35.6M53.03M23.04M14.87M15.34M15.93M12.12M34.78M237.39M-17.19M60.68M75.28M33.52M30.98M27.63M32.53M38.05M13.28M6.88M6.45M-56.27M
Total Liabilities255.25M267.23M249.39M310.78M400.73M326.56M256.54M268.02M886.57M571.62M1.21B3.41B4.66B3.91B2.95B261.85M260.83M311.69M346.12M481.54M189.62M7.57M6.5M79.03M
Total Debt23.19M189.82M165.87M197.88M218.09M182.37M168.23M147.17M613.11M409.17M964.65M2.87B3.75B3.19B2.11B202M197.09M246.17M250.7M335.75M132.24M0056.27M
Net Debt-23.18M161.86M146.16M140.35M185.37M133.62M163.94M132.9M566.24M-14.9M964.63M2.87B3.7B3.18B2.11B201.95M197.06M246.04M250.53M328.87M125.52M-290.75K-834.09K56.27M
Debt / Equity0.15x0.98x0.91x1.13x2.58x2.86x1.87x0.46x0.51x0.38x8.56x16.95x1.98x2.20x1.01x33.96x47.30x-5.04x3.40x----
Debt / EBITDA0.56x4.17x4.03x2.67x1.07x1.23x--3.61x0.50x9.03x-7.87x-34.82x4.72x3.62x-2.26x7.72x3.69x--218.09x
Net Debt / EBITDA-0.56x3.56x3.55x1.89x0.91x0.90x--3.34x-0.02x9.03x-7.78x-34.78x4.72x3.62x-2.26x7.56x3.51x-0.01x-0.13x218.09x
Interest Coverage1.63x-0.23x-0.58x0.91x1.79x-2.53x-33.63x-28.50x4.30x8.46x-0.69x-7.22x3.16x-19.26x-1.15x1.30x1.15x-3.02x-8.17x-1.26x---
Total Equity157.12M193.45M181.66M174.56M84.63M63.7M89.96M316.65M1.2B1.07B112.69M169.58M1.89B1.45B2.09B5.95M4.17M-526K49.72M98.7M-27.89M27.72M27.8M-16.84M
Equity Growth %581.01%6.49%4.07%106.26%32.84%-29.18%-71.59%-73.55%11.66%851.3%-33.55%-91.02%30.51%-30.84%35092%42.74%892.21%-101.06%-49.62%453.82%-200.62%-0.29%265.09%-
Book Value per Share9.0211.7511.0410.625.133.925.5525.6976.1080.2512.1215.7734.833.8122708.550.751.59-0.077.0423.93-10.8710.469.36-6176.02
Total Shareholders' Equity157.12M193.45M181.66M174.56M84.63M63.7M89.96M316.65M1.2B1.07B112.69M52.41M1.77B1.45B2.09B5.95M4.17M-526K49.72M98.7M-27.89M27.72M27.8M-16.84M
Common Stock2K2K2K2K2K2K2K2K16K15K9K12K42K41K26K3K8K8K8K6K3K7707700
Retained Earnings-329.47M-273M-284.88M-252.99M-249.94M-268.48M-240.17M-10.46M101.66M55.7M-479.98M-3.23B-1.22B-1.51B-274.46M-216.31M-214.91M-217.32M-167.06M-28.99M-26.44M415.53K64.53K0
Treasury Stock00000000000000-9.3M-7.16M-6.98M-6.19M-4.03M-3.94M-3.77M000
Accumulated OCI00000000-648.34M-574.25M-466.96M-5.96B-2.97B-2.2B-596.33M-509.13M-489.63M-462.54M-396.3M-67.53M-48.58M-4.92K-1.42K0
Minority Interest00000000000117.17M117.17M00000000000

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Liquidity and solvency constraints

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Balance Sheet Erosion and Instability

As reported in quarterly financial filings, Battalion Oil’s total assets have declined from $506.2 million in 2025Q1 to $412.4 million in 2026Q1, reflecting a persistent contraction that underscores the company's ongoing struggle to maintain its asset base amidst significant operational and financial headwinds.

The consistent reduction in total assets suggests that the company is either divesting core holdings or failing to replace production through organic development. This downward trajectory in asset value, coupled with a massive accumulated deficit, indicates a business model that is currently unable to preserve its capital base.

Leverage Volatility and Refinancing Risk

Based on the provided balance sheet data, Battalion Oil’s debt-to-equity ratio has fluctuated wildly, peaking at 10.04 in 2024Q1 before settling at 0.15 in 2026Q1, which suggests that the company’s capital structure remains highly unstable and sensitive to periodic debt restructuring events.

The extreme variance in leverage metrics implies that the company relies heavily on non-operational financing maneuvers to manage its obligations. Investors should monitor whether the current lower leverage ratio is a sustainable improvement or merely a temporary artifact of recent capital structure adjustments.

Tight Liquidity and Operational Buffer

According to the company's quarterly balance sheets, the current ratio has remained consistently below 1.0, reaching 0.90 in 2026Q1, which indicates that Battalion Oil lacks a sufficient liquidity buffer to comfortably meet its near-term obligations without relying on external capital or asset sales.

A current ratio persistently below parity suggests that the company is operating with minimal margin for error regarding its working capital. This liquidity constraint likely forces management to prioritize short-term cash preservation over long-term capital investment, further limiting the company's ability to scale production.

Equity Quality and Accumulated Deficits

As evidenced by the financial statements, the company’s retained earnings have remained deeply negative, reaching -$329.5 million in 2026Q1, which highlights a long-term history of value destruction that continues to weigh heavily on the company's total equity position.

The persistent negative retained earnings indicate that the company has failed to generate cumulative profits over its operating history. This structural deficit suggests that the equity base is highly fragile and potentially susceptible to further dilution if the company requires additional capital to sustain its operations.

BATL — Frequently Asked Questions

Quick answers to the most common questions about buying BATL stock.

What are the total assets of Battalion Oil Corporation (BATL)?

As of 2025, Battalion Oil Corporation (BATL) had total assets of $460.7M including $57.2M in current assets.

How much debt does Battalion Oil Corporation (BATL) have?

Battalion Oil Corporation (BATL) carries total debt of $189.8M, offset by $28.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of Battalion Oil Corporation?

Battalion Oil Corporation (BATL) has total shareholders' equity (book value) of $193.4M ($11.75 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is Battalion Oil Corporation's current ratio and liquidity?

Battalion Oil Corporation (BATL) reported a current ratio of 0.90x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.